I feel shareholders are not being given the chance to help the...

I feel shareholders are not being given the chance to help the company resolve the finance issue. expecially hawkswood loan. its only 10.8 mill for gods sake.

GIVEN THE OPPURTUNITY I BELIEVE ALL SHAREHOLDERS WOULD PREFER TO HELP THE COMPANY SURVIVE THIS MINOR BS SITUATION

This is a credit problem not future vision problem. If we had the capital we require this company would work. and survive.


My Proposal.

We have a charge over all assets by Hawkswoods. we cant Demerge rincon because of this or re-finance

Why can't existing shraeholders be offered to chance to set up a SH loan fund for the company eg $35 million. we SH put in say $2000 each on a voluntary basis as loans funds to company. This will be a convertable loan fund at a fixed SP say 2 cents exercisable for up to 5 years.

1. We get shares at a chepa price down the track whens the Co. goes 100 bagger.
2. Its is voluntary for those who want to participate. Must be a minimum take up of at leat $28 mill for our immediate loans.

Then we push for demerger and IPO of Rincon assets. This separates receivership risk to only IO assets.

Up side. re-capitalisation of CO on successful IPO.

Company goes to 100 bagger lucky SH who risked $2000 make a packet.

What do we think guys should we contact board ourselves and set up a deal. In my accounting experience i've done this many times on a smaller scale but same principle.

PS: for those who give me the stupid answer why does the company simply just issue more shares and capital raise. DYOR. We have already met our 15% capital raise limit which includes option, shares, rights etc for the 12 months. to further increase we need vote SH approval at AGM or EGM to pass increase above 15%. Time is our problem.